7/28, 10:02 PM (Source: TeleTrader)
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Intel Q2 revenue down 22% to $15.3B YoY

Intel Corporation revealed on Thursday that its revenue in the second quarter of 2022 reached $15.3 billion, plummeting by 22% from the same time span a year earlier, below the market expectations. Diluted earnings per share (EPS) dropped by 109% year over year to $0.11 in the second trimester, with the net income also falling to $500 million.

"This quarter’s results were below the standards we have set for the company and our shareholders. We must and will do better. The sudden and rapid decline in economic activity was the largest driver, but the shortfall also reflects our own execution issues," said Intel CEO Pat Gelsinger, adding that "we are embracing this challenging environment to accelerate our transformation."

Intel shares plunged by 8.34% in after-hours trading after the release of the earnings report.

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